The thing that's happening right now is that many large cities have more or less enabled the possibility of carless transport. Cycling is now completely viable and even better, costco has a foldable ebike for like $400. Weather sucks? Work from home instead. Gotta go? Taxis and buses exist. What do you pay in car insurance? $1000/year? How many trips in the bus is that? Many! You also dont pay for parking anymore. Cycling is great exercise burning fat instead of money. It's a huge net benefit to society which is 70% overweight. National wealth will certainly increase.
Which brings me to traffic lights. Cyclists already don't obey them. Why don't we just abolish them? Traffic lights function just fine when they go out or blink red.
If stop signs replacing all traffic lights is an inconvenience for cars... might I recommend a bike?